123 0 0 3 min to read

10 GOCCs are being considered for privatization.

In the meantime, an assessment of their financial and economic situation, among other factors, is being considered for the potential privatization of about ten government-owned and -controlled enterprises (GOCCs).

Alex L. Quiroz, chair of the Governance Commission for GOCCs (GCG), declined to elaborate during a briefing on Friday, citing the necessity to safeguard the GOCCs’ position till the conclusion of the ongoing assessment.

Different GOCCs each have unique characteristics, according to Quiroz.

The Bangko Sentral ng Pilipinas (BSP), regional water districts, and research institutions are not included in the 118 GOCCs subject to the GCG’s jurisdiction.

The agency’s duties include defending the rights of the government and ensuring that GOCC activities are open to the public and responsive to requests for services from the government.

Given the concerns about its function as a casino regulator and operator, only the Philippine Amusement and Gaming Corp. (Pagcor) has publicly considered the potential for privatization.

Quiroz stated that Pagcor’s privatization is still being evaluated, but he would not provide further information.

He stated that, generally speaking, the GCG is researching whether the approximately 600,000 workers that GOCCs employ can continue to operate.

National Food Authority, Social Security System, Government Service Insurance System, Sugar Regulatory Administration, Subic Bay Metropolitan Authority, Land Bank of the Philippines, Development Bank of the Philippines, Civil Aviation Authority of the Philippines, and Clark Development Corp. are just a few of the GOCCs that fall under the GCG’s purview.

According to the GCG’s executives, 25 GOCCs now in various liquidation phases should be abolished.

QR Code

Save/Share this story with QR CODE


Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

πŸ“© Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.


We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❀️GIVE A TIP. Send a small donation thru Paypal😊❀️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) πŸ›’ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) πŸ‘ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).


AFFILIATE PARTNERS
LiveGood
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.


0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x